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Andros Capital Partners LLC has closed its second investment fund, Andros Energy Capital II LP (Fund II), at its $750 million hard cap.
Management intends to pursue an investment strategy with Fund II similar to the firm’s inaugural 2020 fund, which focused on private equity deals, credit opportunities and direct asset-level investments, according to the Jan. 5 news release.
The rapid recovery of hydrocarbon demand and ongoing global underinvestment has created a fundamental macro dislocation within the global energy markets, said Phillip A. Gayle, Jr., Andros founder and managing partner.
Fund II will primarily target middle-market transactions requiring between $100 and $500 million and maintain a completely flexible and opportunistic investment mandate, allowing the firm to invest across the capital structure in both public and private equity or debt securities.
Gibson Dunn & Crutcher LLP served as legal counsel to Andros in connection with the formation of Fund II. Andros did not engage a placement agent or any outside advisor in connection with the capital raise.
Andros Capital Partners is a private investment firm founded in Houston in 2020. With more than $1 billion in cumulative equity commitments, Andros combines flexible, long-duration capital with an opportunistic investment mandate to leverage its proven track record of building, operating and monetizing assets across the energy value chain.
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